Newmo announced that it has entered into agreement that it will receive ¥1,500,000,000 in an equity round of funding on February 15, 2024. The transaction will include participation from new investors Mercari, Inc, Michinori Holdings, Inc., ANRI, B Dash Ventures Inc., Coral Capital, DCM Ventures Inc., Eight Roads Ventures Japan, Globis Capital Partners Co., Ltd., Headline Asia, Incubate Fund, W Fund, Keio Innovation Initiative Inc., JAFCO Group Co., Ltd., HIRAC FUND and individual investors. The company will receive funding through third-party allotment of capital.

The transaction is expected to close in February 2024.